Biocon gets shareholders’ nod for transfer of biosimilars business
New Delhi: Biotechnology major Biocon said it has received shareholders’ approval to the resolution for transfer of biosimilars business by way of a slump sale to group entity Biocon Biologics India.
“The resolution for transfer of Biosimilars business of the company by way of a slump sale as ‘Going Concern’ to Biocon Biologics India Ltd... has been passed by the members of the company with requisite majority,” Biocon said.
The regulatory filing to the BSE added that Biocon Biologics India is a step down wholly owned subsidiary of the company. The special resolution was passed with 99.99% of votes polled through postal ballot, it added. Shares of Biocon on Friday closed down 0.12% at Rs521.60 per scrip on BSE.
- Not privatizing PSU banks Modi govt’s biggest failing: Morgan Stanley’s Ruchir Sharma
- Modi govt drunk on power, trying every trick to destroy Congress: Sonia Gandhi
- PM Modi urges states to adopt model farm laws drafted by Centre
- Services exports give India an edge in world trade but AI a speed breaker: Paul Krugman
- M. Sukumaran, the Kerala writer who mirrored what’s left of the Left, dies at 75